Statement of assets and liabilities, June 30, 1922—Continued.

ASSETS-Continued.

Face value.

Book value.

Market value, June 30, 1922.

Bonds Continued.

$13,000.00 $12,297.50

$12,675.00

4,000.00

3,660.00 4,200.00

4,000.00

3,600.00 3,880.00

Cleveland Electric Illuminating Co., first mortgage, 5 per cent,
due New York, Apr. 1, 1939; Nos. M6060, M6096, M6097,
*M9730, *M14911, *M14912, M15094-M15098; 11, at $1,000; Nos.
D261-D264; 4, at $500..
*Commonwealth Edison Co., first mortgage, gold, 6 per cent,
due June 1, 1943; Nos. 58097-58100; 4, at $1,000...
Commonwealth Electric Co., first 5 per cent, due June 1, 1943;
Nos. 2945-2947, 4011; 4, at $1,000......
*Consolidated Gas, Electric Light & Power Co. of Baltimore, first
refunding mortgage, 7 per cent, sinking fund, gold, series C,
convertible, due Oct. 1, 1931; Nos. M4583-M4592; 10, at $1,000.. 10,000.00
Cosmos Club, 4.5 per cent, due July 1, 1949; Nos. 286-289, 291-294,
296, 297, 299, 301, 303-305, 350; 16, at $1,000.....
Detroit Edison Co., first and refunding mortgage, gold, 5 per
cent, due Jan. 1, 1940; Nos. 9657-9660; 4, at $1,000; and Nos.
D501, D502, D599; 3, at $500...

9,900.00 10,500.00

16,000.00

16,000.00 12,000.00

5,500.00

Detroit Edison Co., first mortgage, 30-year gold, 5 per cent, due Jan. 1, 1933; Nos. 557, 2442, 2443, 3024, 3252, 3253, 3639-3641, 8086; 10, at $1,000...

10,000.00

10,072.50

9,800.00

*Detroit Edison Co., first and refunding mortgage, 6 per cent,
gold, due June 1, 1940; Nos. B14308, B14298, B14299, B16655;
4, at $1,000; No. BD2048; 1, at $500....

Dominion Coal Co. (Ltd.), first mortgage, sinking fund, gold,
5 per cent, due New York, Mar. 1, 1940; Nos. A1038, A1039; 2,
at $1,000.....
*Dutch East Indies, 40-year, external sinking fund, gold, 6 per
cent, due Mar. 1, 1962; trust receipts Nos. 8058, 41407; 2, at
$1,000; No. D2490; 1, at $500.....

Galveston, Harrisburg & San Antonio, Mexican and Pacific Ex.,
6 per cent, second guaranteed; reduced to 5 per cent, due Jan.
1, 1931; Nos. 1044, 1048, 1248, 2112–2116; 8, at $1,000......
Georgia Railway & Electric Co., first consolidated mortgage,
5 per cent, sinking fund, gold, due Jan. 1, 1932; Nos. 191, 1061,
1600; 3, at $1,000....

Grand Rapids Gas Light Co., 5 per cent, first mortgage, gold,
due New York, Aug. 1, 1939; Nos. A522, A523, A595, A596; 4,
at $1,000......
*Grand Trunk Western Railway Co., first mortgage, 50-year
gold, 4 per cent, due July 1 1950; Nos. 4304, 5605, 5606; 3, at
$1,000; Nos. 15, 265, 774, 781, 839, 994, 1019, 1055, 1059, 1104,
1189, 1378, 2738, 2884, 2942; 15, at $500...
Great Northern Ry. Co., *7 per cent, 15-year general mortgage,
series A, due July 1, 1936; temporary certificates; Nos.
TM67750-TM67755; 6, at $1,000; TC4849, TC4850; 2, at $100;
TD3817; 1, at $500...

Statement of assets and liabilities, June 30, 1922—Continued.

Michigan Northern Power Co. first mortgage guaranteed 5 per
cent, due 1941; Nos. 5054, 5057, 5216, 5516, 5567-5571, 8515; 10
at $1,000; and Nos. 4367, 4368; 2 at $500.....
Milwaukee Electric Railway & Light Co. 5 per cent general and
refunding mortgage, gold, series A, due New York Dec. 1,
1951; Nos. 2088, 2772, 3830, 3840, 3930, 3931, 5222-5224;9 at $1,000.
*Milwaukee Electric Railway & Light Co. 7 per cent 20-year
refunding and first mortgage, gold, series A, due June 1, 1941;
No. D890; 1 at $500..

Minneapolis General Electric Co. 5 per cent 30-year gold mort-
gage, due New York Dec. 1, 1934; Nos. 1621, 1622, 1949, 2004,
2572-2575, 7579, 7580; 10 at $1,000.......
*Nevada-California Electric Corporation 6 per cent first lien,
series A, due Jan. 1, 1946, New York; 1 at $1,000; No. M409...
*Nevada-California Electric Corporation 6 per cent first lien,
gold, series B, due New York, Oct. 1, 1950; 1, at $500; No. D166..
*New York Telephone Co., 6 per cent, 20-year, refunding
mortgage, gold, series A, due Oct. 1, 1941; No. 9018; 1, at $500..
Niagara Falls Power Co., first mortgage, 5 per cent, gold, coupon,
due Jan. 1, 1932; Nos. 5246, 5247, 6583, 8358; 4, at $1,000....
Niagara Falls Power Co., first mortgage, 5 per cent, gold, regis-
tered, due Jan. 1, 1932; No. R484; 1, at $6,000.............
Riggs Realty Co., 3-30-year coupon, first, 5 per cent, due Wash-
ington, D. C., Oct. 1, 1940; Nos. 136, 140, 144; 3, at $1,000....
Shawinigan Water & Power Co., 5 per cent, consolidated mort-
gage, 30-year, gold, due Jan. 1, 1934; Nos. MO354, MO510,
M2894, M2943; 4, at $1,000.....

Southern Bell Telephone & Telegraph Co., 30-year, first mort-
gage, 5 per cent, sinking fund, gold, due Jan. 1, 1941; Nos.
M9739, M11576-M11579, M13965, M15568-M15570; 9, at $1,000...
*State of Queensland, 20-year, 7 per cent, sinking fund, external
loan, gold, due Oct. 1, 1941; Nos. 8224-8231; 8, at $1,000.......
Swiss Government, 8 per cent, due July 1, 1940; No. 3400; 1 at
$1,000......

Trinity Buildings Corporation, first mortgage, gold, 54 per cent, due 1939; Nos. M5229-M5243; 15, at $1,000; and Nos. D697D706; 10, at $500..

Two Rector Street Corporation, first mortgage, 15-year, sinking fund, gold loan, 6 per cent, due Apr. 1, 1935; No. M300; 1, at

19,600.00

Statement of assets and liabilities, June 30, 1922-Continued.
ASSETS Continued.

United Kingdom of Great Britain and Ireland, ten year, 51 per

cent, due Aug. 1, 1929; Nos. M138584-M138599; 16, at $1,000.... $16,000.00 $15, 400.00 Vicksburg, Shreveport & Pacific R. R. Co., prior-lien mortgage,

$17,240.00

Statement of assets and liabilities, June 30, 1922-Continued.

Condensed statement of receipts and expenditures, July 1, 1921, to June 30, 1922

Billings fund, from the estate of Mrs. Mary Anna Palmer
Draper.....

16, 750.00

$21, 280.50

129, 762. 41

10, 448.23

161, 491 14

53, 486. 25

583, 52

23, 686. 87

133, 660.93

Investment of capital......

Accrued interest on bonds purchased..

Purchase of United States Treasury certificates and in

3, 430.00

450.00

428.00

500.00

400.00

400.00

65. 42

300.00

75.00

200.00

1, 440. 42